FMI
China eases restrictions on overseas borrowing
Move allows companies to raise funds in both local and foreign currency without state permission and could help offset record capital outflows, but analysts say short-term impact is likely to be limited
Access to interbank FX market could spur central bank demand for China bonds
PBoC says foreign central banks will be allowed to trade derivatives in interbank FX market; move to underpin greater interest in China's interbank bond market, says analyst
PBoC makes reserve requirement ratio more flexible
China's central bank will change method for calculating banks' reserve requirement ratios tomorrow in a move one analyst says could free up $200 billion
UK mobile payments growth continues as Vocalink eyes overseas projects
Report identifies factors that may be holding back growth in mobile payments in the UK; Vocalink ‘hoping to be involved’ in US work on faster payments
CME guaranty fund cut could lure new clearing members
Regional banks and prop shops are eyeing direct membership, but the lower minimum guaranty fund contribution does little for existing FCMs
MAS takes step to facilitate capital sourcing across Asean jurisdictions
Singapore central bank issues implementation handbook with Thai and Malaysian regulators for firms looking to raise capital in other Asean countries
UK payments regulator approves of code of conduct
Big UK banks have published a voluntary code of conduct for those providing indirect access to payment systems, in a bid to improve standards
UK payments have room for improvement, report finds
Report identifies priorities for better payments among consumers, businesses and government, finding desire for faster, more flexible payments with less room for error
RBI looks to ‘disruptive innovation’ to boost inclusion
Granting licences to 11 payment banks is the next step in a ‘payments revolution’ in India that should increase financial inclusion, deputy governor says, although not all technologies are benign
Fed data gives model of banks’ settlement service choices, paper argues
Data from the Fed’s Fedwire payment service shows that banks select payment services based on average rather than marginal cost, study finds
RBI licenses prospective mobile phone bankers
India’s central bank grants provisional licences to 11 companies to run mobile phone-based banking for poorer Indians
CPMI-Iosco unveil plans for unique transaction identifiers
Consultation lays out proposals for codes to identify over the counter derivatives transactions, as part of efforts to improve reporting to trade repositories
RBA report reveals changing pattern of card use
Australians are increasingly favouring debit over credit cards for payments but both have been increasing in volume and value
Book notes: The Lion Wakes: A Modern History of HSBC, by Richard Roberts and David Kynaston
A weighty tome, commissioned by HSBC to commemorate its 150th anniversary
Bank of Russia presses ahead with rating agency plans
Russian central bank governor Elvira Nabiullina says banking sector is ‘safe’ and economy will soon have its own financial ratings agency and electronic payment system
CLS develops cleared FX settlement service with LCH.Clearnet
Designed specifically for central counterparties and cleared FX products, the service aims to minimise risk in the industry
UK payments regulator evaluates efforts to improve access
Banks and payment systems now expected to be more transparent about criteria for access; regulator says this is now bearing fruit, but the real tests are yet to come
Greek swaps contract drama continues
Ongoing controls mean some end-user payments are more than a month overdue
UK’s Chaps and Crest to close later from ‘summer 2016’
Bank of England says the settlement day for the UK’s high-value payment system and securities settlement system will be extended by an hour and forty minutes from summer 2016
First cross-border repo executed in Chinese bond market
ICBC's Singapore branch raises 200 million yuan on China's interbank bond market in first deal since PBoC scrapped limits on offshore access to $5.7tn market earlier this year
Dutch bulletin: T2S can only succeed if ‘many’ CSDs sign up
The Netherlands Bank's latest bulletin highlights the importance of more CSDs in Europe signing up to the Target2-Securities platform since the initial migration in June
CPMI and Iosco launch first consistency assessment of FMI principles
'Level three' assessment will examine the consistency with which the Principles for Financial Market Infrastructures have been applied to central counterparties
HKMA introduces ‘major' piece of financial infrastructure to facilitate China flows
New routing and settlement service will underpin mutual recognition of funds initiative launched July 1; will enhance Hong Kong's role as ‘leading asset management centre', says Pang
Korea introduces RMB discount window
Bank of Korea to launch emergency liquidity facility offering Chinese currency as part of broader infrastructure push aimed at bolstering Seoul's role as RMB hub